Accor Reports Solid Growth in First Half of 2013
Wednesday July 17th, 2013 - 9:47AM XB
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PARIS—Accor has seen favorable growth in the first quarter of 2013, supported by a strong Q2, according to the company.
Highlights of Accor’s report include a 6.7% increase in gross revenue, which the company attributes to management and franchise expansion. Accor also reported that first half revenue was up 1.8% like-for-like, with a 3.3% increase in the second quarter.
Accor also noted that growth has been strong across all segments, led by emerging markets and resilience in Europe. The company added 9,940 new rooms during the first half, 80% of which were under asset-light structures.
Tags: • Hospitality • Brands • Quarterly Results •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.